Martin WinterKornGermany – Martin WinterKorn has resigned as CEO of the Volkswagen Group after it was revealed that the company had installed a system on certain diesel engines in the US designed to deliver false emission test results. Prof. Dr. WinterKorn issued the following statement:

“I am shocked by the events of the past few days. Above all, I am stunned that misconduct on such a scale was possible in the Volkswagen Group.

As CEO I accept responsibility for the irregularities that have been found in diesel engines and have therefore requested the Supervisory Board to agree on terminating my function as CEO of the Volkswagen Group. I am doing this in the interests of the company even though I am not aware of any wrong doing on my part.

Volkswagen needs a fresh start – also in terms of personnel. I am clearing the way for this fresh start with my resignation...”